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Missed Fortune – Where Will You Be 4 Years From Now?

Posted on | November 21, 2012

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Will Your Future Still Be Brighter in Another 4 Years?

Imagine for a moment that you are able to look into the future and see what you’ll be doing 4 years from now. There is a lot of prognostication about what the next four years will bring, but some things are more likely than others.

For instance, with the current talk that’s taking place in Washington D.C. right now, taxes will almost certainly be higher. Inflation also looks likely to rise in the near future. Market volatility and uncertainty is expected to continue as well.

But the most important question you need be asking as you contemplate the next four years is: what has to have happened, especially from a financial standpoint, as well as in other areas of your live for you to be happy with the progress you’ve made?

Will you have incorporated the right strategies to give you a vision for a brighter future?

You’d be astounded how many people have no such vision for a brighter future and therefore have no idea how to take ownership of their future. Apparently, about half of America is expecting government to provide that security for them, but there are still plenty of us who prefer taking ownership of our own future.

If you find yourself among the latter group, you’ll need to know how to identify and avoid the dangers, the obstacles, and the roadblocks that would prevent you from achieving your brighter future.

From a financial standpoint, those dangers include taxes going up dramatically, inflation eroding away the purchasing power of your dollars, and also continued market volatility and economic uncertainty. To reach that brighter future is going to require a meaningful transformation in your life. For most people that will mean learning what they don’t know that they don’t know.

Facing Your Financial Future With Calmness and Certainty

The people who are expecting the government to provide their future security have good reason to be uncertain. On the other hand, those who are willing to take ownership can enjoy the calmness and the assurance of a brighter future.

The key here is that there are very specific action steps that must be taken. You’ve got to get in motion sooner than later. If you keep doing the same things you’ve always done, it is a certainty that you’ll keep getting what you’ve always gotten.

This means that if your money is still sitting in a yet-to-be-taxed IRA or 401(k) four years from now, you’ll be kicking yourself. Most people in this situation are counting on being in a lower tax bracket in the future, but they will experience a rude awakening when tax rates have been hiked and they no longer have the deductions they once had. They may very well find themselves paying more taxes in retirement than they did during their earning years.

They’d be much better off to consider doing a strategic rollout that shifts their money from their IRA or 401(k) into far better plans that are totally tax-free.

By doing a strategic rollout, they’ll be able to move that money over a period of time with minimal tax consequence. Once it has been moved, their money will accumulate tax-free from that day forward. Better still, their money will remain tax-free as they access it and distribute it at their retirement and it will be tax-free when it is transferred to their heirs at the end of their life.

They also would be wise to learn how to link their returns to those things that inflate so that inflation works with them rather than against them. And finally, they need to learn to protect their principal so it safely earns a predictable rate of return regardless of what the economy is doing. By using an indexing strategy, they have their money positioned so that it benefits when the market grows yet doesn’t lose a dime when the market goes down.

If you’re ready to begin taking the specific steps required to take ownership of your brighter future, start by taking the first step.

Visit with a Missed Fortune advisor today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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